The Case of Flat AAPL!
Since AAPL chart study generated much interest on this blog and on Twitter, let us see how the charts explain the relative flatness of AAPL price despite recent up days for the market.
In the Intraday chart at the close yesterday (7/26), notice that the dominant Black oscillator has recently finished its downward move.
The dominant Blue (bottom right chart) is also moving down. The price is indicated in the bottom left chart.
But such down cycles should have brought the price down. The reason for the flatness can be seen when we look at the End-of-Day chart below.
The dominant Pink is clearly up (top left). It makes sense that the fastest oscillators on the End-of-Day charts (top right) mirror the movement for the Intraday oscillators.
Those who have been following the blog would have noticed the Pink-Black crossing point in the graph above.
The upward crossing point coupled with the upward cycle of Black in the Intraday charts gave us the nice little 1.5% upward pop in AAPL price this morning (7/27) even as NASDAQ Composite stays flat at 0.2%!
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